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Business & farm
It looks like there is an issue with the Guaranteed Payments allocation to partners within the Alabama Partnership Form 65 and I'm having our technical team look at it, but there is a way to enter the information so you can continue with your filing. Also, the first two tokens you provided are for the same business, so I'm not sure this is the same issue there, but it is for the first token and the last token.
You need to switch to Forms mode and enter the information on the K-1 worksheet for each partner. To do this in TurboTax Business you can follow these steps:
- Within your tax return use the Forms icon in the upper right of the screen to switch to Forms mode
- Scroll down in the menu to the left to Alabama Partnership and click Sch K-1 Wks
- On the first K-1 worksheet in the preview pane, enter the Guaranteed payments - for services in box T and Medical insurance premium paid for partner in box U
- To get to the next partner's K-1 worksheet click the down arrow on the scroll bar immediately to the right of the boxes (so still on the form not all the way to the right on the screen)
- Continue to go through until you have entered all the payments for each partner on the return
- Use the Step-by-Step icon in the upper right of the screen to go back to the interview and finish reviewing your returns
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‎February 24, 2023
9:11 AM